CHF/NOK may rise 471 - 671 pips

Our pivot point stands at 11.8200.

Our preference

The upside prevails as long as 11.8200 is support.

Alternative scenario

Below 11.8200, expect 11.7860 and 11.7660.

Comment

The RSI is above its neutrality area at 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 11.8579 and 11.8575). Finally, the CHF/NOK is trading above its upper Bollinger band (standing at 11.8689).

Supports and resistances

11.9790 **

11.9580 *

11.9380 **

11.9180

11.8709 last

11.8330

11.8200 **

11.7860 *

11.7660 **

Number of asterisks represents the strength of support and resistance levels.